Nuveen LLC Purchases New Position in Golden Entertainment, Inc. $GDEN

Key Points

• Nuveen LLC acquired a new stake in Golden Entertainment, purchasing 55,027 shares valued at approximately $1.45 million, representing 0.21% ownership.
• Golden Entertainment will pay a quarterly dividend of $0.25 per share on October 3rd, reflecting an annualized yield of 4.0% despite a high payout ratio of 185.19%.
• Several institutional investors have modified their positions in Golden Entertainment, with over 70% of shares owned by institutional investors, indicating strong confidence in the company's stock.

Nuveen LLC purchased a new stake in shares of Golden Entertainment, Inc. (NASDAQ:GDEN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 55,027 shares of the company's stock, valued at approximately $1,452,000. Nuveen LLC owned 0.21% of Golden Entertainment as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GDEN. Deprince Race & Zollo Inc. bought a new stake in Golden Entertainment during the fourth quarter valued at about $17,704,000. Millennium Management LLC raised its holdings in Golden Entertainment by 885.9% during the fourth quarter. Millennium Management LLC now owns 171,302 shares of the company's stock valued at $5,413,000 after acquiring an additional 153,927 shares during the period. DAVENPORT & Co LLC raised its holdings in Golden Entertainment by 10.7% during the first quarter. DAVENPORT & Co LLC now owns 1,431,300 shares of the company's stock valued at $37,956,000 after acquiring an additional 138,137 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Golden Entertainment by 14.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 352,843 shares of the company's stock worth $9,312,000 after purchasing an additional 43,647 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Golden Entertainment by 10.6% in the first quarter. New York State Common Retirement Fund now owns 425,565 shares of the company's stock worth $11,231,000 after purchasing an additional 40,826 shares during the last quarter. 70.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDEN. Citigroup reaffirmed an "outperform" rating on shares of Golden Entertainment in a report on Friday, July 18th. Wall Street Zen raised Golden Entertainment from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company reduced their target price on Golden Entertainment from $36.00 to $34.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Truist Financial cut Golden Entertainment from a "buy" rating to a "hold" rating and reduced their target price for the stock from $36.00 to $34.00 in a report on Wednesday, July 16th. Finally, JMP Securities reduced their target price on Golden Entertainment from $36.00 to $35.00 and set a "market outperform" rating on the stock in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Golden Entertainment Trading Up 0.9%

Shares of NASDAQ:GDEN traded up $0.23 during trading hours on Thursday, hitting $24.38. 48,569 shares of the company's stock traded hands, compared to its average volume of 207,485. Golden Entertainment, Inc. has a 1 year low of $22.66 and a 1 year high of $35.49. The business has a fifty day moving average price of $27.77 and a 200-day moving average price of $27.80. The firm has a market capitalization of $637.73 million, a P/E ratio of 45.20 and a beta of 1.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03.

Golden Entertainment (NASDAQ:GDEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%.The business had revenue of $163.62 million during the quarter, compared to analyst estimates of $169.70 million. Equities analysts expect that Golden Entertainment, Inc. will post 0.2 earnings per share for the current year.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Thursday, September 25th. Golden Entertainment's payout ratio is 185.19%.

Golden Entertainment Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.